JPDD

Obama's TARP 2 Signals an End to Mark to Market

<i>The health of our financial system should never be tied so closely to short term real estate fluctuations. </i>

You are correct, but for the wrong reason. The assets in question were incorrectly marked-to-model during the unsustainable real-estate <b>rise</b>...

Now, you can choose not to let those values fall on the balance sheet, but that doesn't mean that any sensible investor is going to believe your accounting.

Upbeat Outlook for Credit Card Backed Securities - S&P

Citi announced losses on credit-card securitizations:
tinyurl.com/5rvr8o

I wonder whether S&P is missing the boat on this one too.